Advance Auto Parts Expected to Earn $2.22 a Share

Advance Auto Parts, Inc. (AAP - Get Report) is expected to report net income of $159.2 million, or $2.22 a share, on sales of $2.4 billion before the market opens on Tuesday, based on a FactSet survey of 20 analysts.

In the same period a year ago, the company posted earnings of $1.97 a share on sales of $2.3 billion. It reported net income of $136.7 million.

The stock has fallen 13.2% since the company last reported earnings on May. 22.

Quarterly estimates have fallen 2.1 cents a share in the past month.

Advance Auto Parts is currently trading at a price-to-forward-earnings ratio of 15.8 based on the 12-month estimates of 22 analysts surveyed by FactSet.

In the upcoming quarter analysts are forecasting net income of $150.5 million, or $2.10 a share, on sales of $2.3 billion.

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UAW Vice President Terry Dittes sent a letter to union members Saturday saying that the union will not extend the current 2015 collective bargaining agreement, but will work without a contract 'until a course of action is decided' by the UAW international executive board and the UAW-GM national council.

GM and the United Auto Workers continue to haggle at the negotiation table over everything from pay and temporary workers to health care costs, but with the union's four-year current contract set to expire at midnight, the auto industry could see its first major walkout in more than a decade.